GameStop (NYSE:GME) Posts Quarterly Earnings Results, Meets Expectations

GameStop (NYSE:GME) released its quarterly earnings data on Tuesday. The company reported $0.27 EPS for the quarter, hitting analysts’ consensus estimates of $0.27, FiscalAI reports. The firm had revenue of $790.20 million for the quarter, compared to the consensus estimate of $756.85 million. GameStop had a return on equity of 13.75% and a net margin of 20.45%.

GameStop Stock Up 0.3%

Shares of NYSE GME opened at $19.21 on Tuesday. GameStop has a 12-month low of $17.79 and a 12-month high of $28.10. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 14.55 and a beta of 1.72. The company has a quick ratio of 11.91, a current ratio of 12.40 and a debt-to-equity ratio of 0.71. The firm’s 50-day simple moving average is $20.23 and its 200 day simple moving average is $22.07.

Wall Street Analyst Weigh In

A number of analysts have issued reports on GME shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of GameStop in a report on Wednesday, July 29th. Wall Street Zen lowered GameStop from a “buy” rating to a “hold” rating in a report on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Insider Activity

In other news, insider Daniel Moore sold 7,085 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $22.38, for a total transaction of $158,562.30. Following the sale, the insider owned 115,125 shares of the company’s stock, valued at $2,576,497.50. This trade represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, General Counsel Mark Robinson sold 3,957 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $22.62, for a total value of $89,507.34. Following the completion of the transaction, the general counsel owned 104,190 shares of the company’s stock, valued at $2,356,777.80. This represents a 3.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 18,125 shares of company stock valued at $406,587 over the last three months. Company insiders own 9.50% of the company’s stock.

Hedge Funds Weigh In On GameStop

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC increased its position in shares of GameStop by 312.2% during the 1st quarter. AQR Capital Management LLC now owns 29,438 shares of the company’s stock worth $623,000 after purchasing an additional 22,297 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in GameStop by 33.2% in the first quarter. Goldman Sachs Group Inc. now owns 262,143 shares of the company’s stock valued at $5,851,000 after acquiring an additional 65,325 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of GameStop by 9.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,131,481 shares of the company’s stock worth $25,255,000 after purchasing an additional 94,892 shares during the last quarter. American Century Companies Inc. increased its stake in shares of GameStop by 6.5% during the 2nd quarter. American Century Companies Inc. now owns 35,473 shares of the company’s stock worth $865,000 after purchasing an additional 2,162 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of GameStop by 226.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,277 shares of the company’s stock valued at $31,000 after purchasing an additional 886 shares during the period. 29.21% of the stock is owned by institutional investors.

About GameStop

GameStop Corp. (NYSE:GME) is a global specialty retailer focused on video games, gaming consoles, consumer electronics and related accessories. The company operates a network of physical retail stores alongside an e-commerce platform, offering new and pre-owned products spanning the latest game software, hardware, collectibles and lifestyle merchandise. GameStop’s retail footprint is complemented by digital marketplaces for trade-ins and online purchases, as well as a membership program that provides exclusive content and rewards.

Originally founded in 1984 as Babbage’s in Dallas, Texas, the company adopted the GameStop name in 1999 following its merger with Software Etc.